Recently rumors had been floating around the internet regarding CD Projekt RED seemingly resisted a hostile takeover. According to Neogaf user boskee, who translated a document in Polish, CD Projekt called for an unusual meeting of shareholders scheduled for November 29th with the following topics up for discussion:
- Vote on whether or not to allow the company to buy back part of its own shares for 250 million PLN ($64 million)
- Vote on whether to merge CD Projekt Brands (fully owned subsidiary that holds trademarks to the Witcher and Cyberpunk games) into the holding company
- Vote on the change of the company’s statute
The third point, specifically, would limit the voting capacity of shareholders owning 20% or more of the company’s shares; this would only be lifted if the shareholders decide to buy all the remaining shares for a set price, ultimately exceeding 50% of the shares.
Unsurprisingly the news ignited lots of speculation amongst fans of the Polish developer and publisher, who have created fan-favorites such as The Witcher series and adored services like the DRM-free GOG.
Majority of the people would despair if this beacon of independence in the gaming industry ever undergoes a hostile takeover by a huge corporation.
Fortunately, There is nothing to worry about. CD Projekt have issued the following statement.
As for the rumor, it emerged after the Board suggested introducing a voting cap during the upcoming shareholder meeting. However, the proposal is not a reaction to any current events affecting CD PROJEKT. Rather, it is meant as insurance against future hypothetical scenarios which may never materialize.
We wish to safeguard the interests of minority shareholders in a hypothetical case where a major shareholder emerges professing a business and strategic vision which conflicts with ours.
There’s no real danger for now, then: it’s just a precaution on hypothetical events. The developer is currently occupied with the development of some interesting games, beginning with Gwent (currently in closed beta) and Cyberpunk 2077).